building startups: investor and entrepreneur perspective with peter james
DESCRIPTION
This practical workshop will offer first hand advice on a wide range of relevant topics from an investor and entrepreneur perspective with a focus on emerging technologies. · What does an investor looks for in a startup? · The do’s and don’ts of pitching to investors · The business proposition; your competitive advantage, innovation and technology · Go To Market plans; exit strategies · Managing Growth, scaling your business sustainably; cloud technologies · ... and Why Adelaide?!TRANSCRIPT
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Building Startups: Investor and entrepreneur perspective
Majoran Distillery
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Background
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Computer Power Group
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A Clear Message
The business proposition
Your competitive advantage, innovation, technology
The market, barriers to entry
Scalability
The team
The numbers... You must know these, regardless
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‘Spray & Pray’ vs the ‘F word’
FOCUS the ‘F word’ Don’t try to do too much too quickly
Reduce complexity
Minimal viable proposition
Measure results regularly
Listen to customer feedback
Communicate with a simple, clear message
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The Costs of Starting a Business
Have fallen dramatically
Social Media
Cloud Computing
Bandwidth
An increasing long-tail of startups
But smaller number of entrepreneurs with big ideas!
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How to stand out in the crowd
Beauty is in the eye of the beholder What your customers want to see is far more important than what you want to show
The connected world Every business is now a potential publisher
So is every consumer
Getting the message out has never been easier But when everyone publishes content, how does yours get noticed?
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Managing Growth
Don’t scale too quickly Prove the model first and fast!!
Start up Genome - www.startupgenome.com “Inconsistent Startup”
Keep your team lean and mean
Don’t raise too much money too early
Understand your customers first, get your product right!
TOO BIG TOO EARLY!
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Exit Stage Left
You shouldn’t plan for it Running the business successfully is more important
Lifestyle or building equity = cash
Need to build value; IP = Intellectual Property
Scaleable
Have an exit strategy; but focus on running the business successfully
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Jump On It & Living Social
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iinet: Luck o’ the Irish
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Content marketing Active blog. Whole team contributes articles Thought leadership PR on relevant topics Informative presentations, videos, white papers Highlights selling points Removes common barriers to adoption
Social Media Building an engaged audience Identify & respond to customer issues Monitor and join relevant conversations Rapid spread of Ninefold messaging Feedback Reputation management
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Ninefold
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Digital marketing Regular digital campaigns and promotions Search engine optimisation and advertising Banner ads via the Google Display Network
Events and networking Developer & digital meetups & conferences Approx 50 events attended every month Build brand awareness via speaking opps Supported by advocates at the events T-shirts, beanies, hoodies & promo codes
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Ninefold
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Adelaide vs The World v
Australian and Adelaide tech companies can compete on the world stage
We are early adaptors
But our markets are small
Connected world, NBN Co, Customers and Competitors
Silicon Valley is a Mecca, - but not the “holy grail”; e.g. Startup Saturday Bangalore
Great Local (Australian) support for innovation and entrepreneurs
Need to network: online/offline
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Just do it!
Every year it is going to get harder. So there’s no excuse to say “I’ll just wait another year.” If you’ve got an idea, no matter what it is, then the thing you’ll regret is not doing it.
Michael Malone: Founder, iinet
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Twitter @kilcareninefold.com
Majoran Distillery